Commercial Real Estate Market in Shannon, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 52 off-market properties in Shannon, IL.
Market Trends
Shannon, IL spans 55.4 square miles in Carroll County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shannon, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Shannon, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Shannon, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Shannon, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 71.5%
- Commercial 14.9%
- Industrial 13.6%
Largest Zones share of zoned land by district
Single Family District
Business And Light Industry
Heavy Industry
Multiple Family District
Shannon, IL zones 325 acres across 4 districts. Commercial zoning covers 14.9% of zoned land, residential 71.5% and industrial 13.6%. The largest single district is Single Family District at 67.9%. For commercial buyers the practical constraint is that only 28.5% of land carries a commercial or industrial designation.
Single Family District (R-1)
R-1 One-family residential district R-2 Multiple-family residential district C Business and light industry district I Heavy industry district B. Zoning Map: The boundaries of designated districts are shown upon the map made a part of this title, which map is designated as the "Zoning Map Of The Village Of Shannon". The zoning map is made a part of this title…
Market overview
Demographics & Economy
Shannon, IL has 1,388 residents in 626 households. Density runs 25 people per square mile. Median household income here is $75,150 and median gross rent $733 a month.
1,388
Population
626
Households
2.2
Avg Household Size
42
Median Age
18%
College-Educated
95%
High-School Grad
55.4 sq mi
ZIP Area
25
Density / Sq Mi
$75,150
Median Household Income
$34,097
Median Earnings
$733
Median Rent
$128,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Harper | — | — |
| Lanark | — | — |
| Baileyville | — | — |
| Pearl City | — | — |
Commercial property in Shannon, IL asks $379/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Shannon?
Commercial property in Shannon, IL asks an average of $379 per square foot.
What zoning applies to commercial property in Shannon?
Shannon, IL zones 325 acres across 4 districts, of which 14.9% is commercial and 13.6% industrial. The largest single district is Single Family District at 67.9% of zoned land. R-1 One-family residential district R-2 Multiple-family residential district C Business and light industry district I Heavy industry district B. Zoning Map: The boundaries of designated districts are shown upon the map made a part of this title, which map is designated as the "Zoning Map Of The Village Of Shannon". The zoning map is made a part of this title… Residential zoning covers 71.5% and open space 0%.
Where does Realmo's Shannon market data come from?
Realmo compiles Shannon, IL figures from 3 active sale listings, 52 tracked off-market properties, the current Shannon zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Shannon, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 325 zoned acres across 4 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
